By FX Empire.com
Gold markets finally made the move we have been waiting for on Tuesday, as it shot straight up and through the $1,700 resistance area. The situation in Europe has investors concerned about the solution, and the safety of fiat currencies – namely the Euro. In times like this, gold is often bought as a “safe haven trade”, as investors cannot trust a paper currency that has so many issues attached to it. While the US dollar gained all day, so did gold – meaning a flight to safety. Until the EU gets a handle on the situation in the banking and debt sectors, this market will continue to rise overall. We like buying any and all dips at this point.
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